lrf v shady looking ann, page-20

i believe the hedge funds aquired most of their options on market around 1-5c just before exercise date.

donner I suspect hadn't counted on so many options being exercised which is part of the reason they did that disastrous underwriting for another 50~ mil @95c after fees.

donner and the hedge funds are not friends. they had a bitter battle when they proposed a special meeting. mgt have to be realists though. shareholders can control who manages the company. if the hedge funds want something, they have 30 million votes each so they must pay heed. don't feel it is a conspiracy, just reality of 1 share 1 vote.